After the market capitalization has been decreased a lot, the prices of the major coins have dropped aggressively with breaking the previous “bottom” and reaching the of 4295$.
Well, the price decrease of almost 29% since the beginning of the month has made a lot of people to be confused about the future of the crypto currencies. We can easily describe this moment like one in which we have to admit that the market will remain unpredictable regardless the level of expertise we have.
At this stage, the on a 1M chart is moving away from the “neutral” area (registering the level of 47) while the Stochastic’s crossover didn’t occur yet. Also the is still below the Signal line which means that there is still more room for the price to go even lower.
But what’s the most important aspect is the red which has big chances to be fully created below the 20 days Moving Average if the price will not end up the month higher than 6377$ at least. And like we’ve mentioned on the previous posts, this red can be considered as a confirmation of the , meaning that the next of 2045$ can be a possible target in the future.
Of course, if the positive news will start to come and it will bring higher trading volumes, the situation can change and the price will have chances to go again above the of 6641$.
“Hoddlers”, let’s pray harder! 🙂
Published at Thu, 22 Nov 2018 13:28:53 +0000
